Mike Foulds to Lead Teams at West USA in Phoenix

West USA Realty in Phoenix recently hired Mike Foulds to lead their IBA Division. In this position, Mike will be responsible for recruiting, training, and motivating members of real estate teams within West USA. The Internal Broker Alliance (IBA) Division is a new focus on the growth and development of successful teams within the organization.
In this ever-changing real estate market, realtors are finding many benefits by forming teams. In most teams, there is an experienced team leader and at least one team member who has less time in the business.
By operating as a team, the leader can help motivate and train less experienced team members, while up-and-coming agents get leadership, direction, and support that they could never get practicing real estate alone.
West USA has realized the value and importance of teams within the industry and has committed the IBA Division and Mike Foulds to building stronger, more viable teams within West USA Realty.
Mike comes to West USA after nine years in the real estate business, including eight as a team leader and most recently as Designated Broker for a small real estate company in the Phoenix market. Mike has owned or managed businesses in several industries in the Valley of the Sun. Mike also has a Bachelor’s degree from Arizona State University in the field of Personnel Management.
Any realtor who is not performing to their expectations is encouraged to contact Mike to get more information on how being part of a real estate team can benefit their career. Mike is also looking for realtors who are with other brokerages, but looking for a new opportunity at success by joining a team at West USA.
You may reach Mike Foulds by email at Mike@MikeFoulds.com or at 602-316-9220.

Phoenix Housing Inventory Continues to Plummet? Where are the Foreclosures?

It’s almost eerie!! Where are all of the listings? As of 5/17/2011, there are only 26,253 homes available for sale on the Phoenix area MLS. That is down from November’s nearly 40,000 homes on the market.
Meanwhile, homes that are under contract total 22,220 as of this date. That is up from 16,150 in November.
So, what happens to a market when there are more homes under contract than there are “active” on the MLS? I believe that would turn this buyer’s market that we’ve had for the past 5-6 years into a Seller’s Market!!
I don’t think prices are going to start rising dramatically, but i am very confident we have seen and passed the bottom of the market! I thing that passed in January or February. So, I anticipate some appreciation!
The big question is where are all of the foreclosures? You know the banks are still foreclosing on homes! There has to be a “shadow inventory” of at least 15,000-20,000 homes that aren’t on the market, but aren’t being lived in or paid om. Where are these homes and when will they begin hitting the market?
When that becomes clear, we will be better able to gauge where the market is heading!
As usual, stay tuned! The Phoenix Real Estate Market is going to continue to be interesting!